Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 06-05-2014 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | Financing for Schwabinger Tor Quarter, Munich | Industry: | Real Estate Investment & Services |
| Description: |
Ashurst advised a consortium comprising pbb Deutsche Pfandbriefbank AG and ERGO Lebensversicherung AG on the financing of the new urban quarter Schwabinger Tor in Munich. Real estate company Jost Hurler Beteiligungs- und Verwaltungsgesellschaft GmbH & Co. KG (Jost Hurler) is the borrower. The financing volume amounts to approximately EUR388 million.
Situated on the northern part of Munich's renowned Leopoldstrasse, Jost Hurler intends to construct until 2017 an urban district with 200 apartments, offices, shops, restaurants and a hotel of Hyatt brand Andaz on a total area of 90,000 square meters. Nine buildings will be constructed, including three 50-metre high-rise buildings. Schwabinger Tor is one of the largest construction projects in southern Germany. Jost Hurler wants to retain ownership of all properties.
The Ashurst team was led by partners Sebastian Schoon (Munich) and Derk Opitz (Frankfurt). Counsel Christiane Kneip and associate Isabell Poller supported (both Munich, all banking).
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| Financial Center: | Munich | Value: | 100.01-500.00 |
| Advised Party: | Lender | Law Firm | Ashurst |
| Real Estate Jurisdiction | Germany | Real Estate Jurisdiction | Germany |
| Classification: |
Real Estate Finance Office |
Lawyer | Sebastian Schoon |
